Lundin Petroleum to Test Well at Johan Sverdrup Discovery

Lundin Petroleum AB announces that the appraisal well 16/3-5 well in PL501 in the south eastern part of the Johan Sverdrup discovery has reached target depth. The well will now be tested.

The appraisal well has drilled through reservoir sections consisting mainly of good quality Volgian reservoir sand and Zechstein carbonates. The top of the Volgian reservoir sandstone was found at 1,893 metres below mean sea level. The total gross reservoir column is approximately 30 metres of which 14 metres is gross Volgian reservoir. The oil bearing Zechstein limestone is in pressure communication with the overlying sand and provides potential upside resources. Oil has been sampled in both reservoir zones and the well will now drill stem test the two zones.

The well is being drilled with the rig Bredford Dolphin and the testing will take approximately 20 days.

[mappress]
Press Release, February 11, 2013